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How Long did. Apple wobble along before succesfully bringing their first iPhone to market? 20 years +, Anavex just started the journey, so check back in 2034 if this is still around. More than 98% of These companies will not succeed, watch out for similar scams like NNVC. GLTA
Hey DewDiligence!
Thanks for sharing, the GG forum is the Telecosm Forum, GG stands for George Gilder.
Hey Dew (Biko), can you please share about any other interesting bio companies with potential in the next 10 years? I know you from the GG forum.
"NanoViricides Has Filed Annual Report, Says Company Has Sufficient Cash To Advance Into Clinical Trials"
I wonder what clinical trials the 2 fellas want to enter? Is it the eye cure for horses and bunnies, they bragged about a couple years ago back in 2009, or is it to find a cure for the annual cash disease virus, called "out-of-cash-icide" trial, which misleads and encourages the average sixpack joe under fraudulent hopes to deposit their hard earned $, to extend the good lifestyle of the company´s officers? Luckily this will not happen, and soon there will be lights out for a very poor managed company called NNVC.
I can´t understand, what the two main responsibles of this company are doing. Usually American businessmen or company owners, are proud and committed persons, who like to walk the talk. But these 2 fellas may have a different agenda, which differentiates them from the wheat and chaff of the elite, as can be seen on the deviation of progress, communicated now for more then the last 10 years, when it started with a fireside chat back in 2006. In any case, the day of the last judgment is approaching, and after lights out for this fraudulent company, they will not be able to harm any investors anymore, who put their hard earned money into this ponzi scheme, build on false promises and statements.
NNVC 2006 - 2017
This is the timeframe this company entered into the crooked Wall Street space, first snatched into the OTC market, afterwards after a reverse stock split of 1 for every 3.5 shares into the NYSE . Now that´s 11 years, and they still could´t achieve even one IND! There is the question to ask what is and was this dream management team doing all day long in those 11 years?
Looks like they aren´t interested to push anything forward, only executing for their own well being and interest, and releasing news without any substance to the retail share holders to finance their good lifestyle.
I wonder what the 2 old guys are doing, after so many years of inactivity? Maybe they should inform the public investors: Don't worry, we never intend to bring anything to market, but we want your $ for our good life style. Please keep investing, that we can keep our lavish lifestyle at bay!
Thank you for your faith in our company, we will open a bottle of Dom Perignon on your behalf!
Just saw on the Russel Index page, NNVC has been "purged" from the Index, Status June 12th 2015.
2.3 kg of GLP Flucide delivery to BASi, months away? The small retail investors have pulled the "A$$card on this one. The two senile managers of this BS company, keep thinking that their BS releases will attract more dumb $ from new investors. Not going to happen anymore, after years and years of spreading Bull$hitcide. Why don't the two BSers not inviting for an public "open day" into their "new" facility, that everybody can see, what "really" is ongoing there. Surely, that isn't going to happen either, since the real status of progress would get them exposed immediately. Looks like, the new facility does not even have all the necessary equipment in place by now,to produce such quantities for BASi. I suspect the following: Until an IND for Flucide could get granted, it will stretch well into 2018, before any, and if, tests on humans could resume. This one IMO is a very disturbing sign of a company,which always overpromises but underdelivers, "Stick a fork in it".
All the Hawaii Girls and Boys with their 20$ dreams and dancing on the beach are gone for now! The two guys leading that scam have screwed the investors long enough. It's time, that their scam blabla gets wiped off the public investor space. It shouldn't take to long.
I wonder how many employees do they have in their new facility? Zero, nada ,zilch! These guys are a joke, they will never ever bring a product to the market! Oh I forgot, it is time for a new PR, "BullshitCide Tm", before they will be de-listed from the Russel 3000! Coming soon...
I'm buffeled...NNVC at $100?...have u taken over from the super pumper BK...or are u perhaps a little rtd?...until today they proofed only that the platform works in some animal tests...nothing to get overly excited...no progress whatsoever since 2006...only woulda...coulda...shoulda...presentations by the Mgmt...all timelines were broken...these guys have no credibility...nobody believes in their blabla anymore!
Sad story, the blah blah of the two senile leaders doesn't work anymore, no one takes the bait on this stinking fish head, therefore the days for this company are numbered.Outlook: Kickout of Russel 3000 within this year,then back to where they came from: the rathole. The false promises over the last eight years have taken their toll...no further comment!
I'm buffled, with 200K shares u're almost a millionaire and still find time to post on a message board...? U forgot one very important thing in your equation,which might dampen your excitement pretty soon, CTIX has without doubt a few very hot irons in the fire, but to the contrary, they have a very thin cash position. Soon they will either need to dilute their current already very high share count by announcing an offering, or giving away some of their success at a rather "CHEAPO", i.e. a deep pocketed and well established competitor.
So when will they start, 15,16,or 17...i'm starting to get disappointed..., I know u since 2005...10 years later I'm getting worn out on defending the two "Uncles"!
As usual, u're dead wrong on this one!
Hope u have covered ur short position!
GLTY
I hope you are not jealous on the top notch result regarding EXAS's Cologard test? Regarding whether this test will gain traction, which the shorts deliberately deny, I wish them all the "BLACK MAMBA" over an easy stool test to prevent CRC if tested once every 3 years. Greed has a different agenda over common sense and humanity, I don't want to put u into the same box, since I know u from another board. GLTU and all ur biotech recommendations. SHALOM Brother.
Kelt
I have not contributed much on IHUB, but always value your posts. I wish you a speedy recovery and best luck for the future!
As expected...this guys are a joke at best...next year they will announce that the tox studies cannot start, because the toilet room did not meet the biolab standard requirements putting the production of the nanomicelles on hold, until the problem is fixed...and so on...and so on...
This is exactly mirroring the view from an article posted on Seeking Alpha a short time ago:
From SA...
The people behind the company are the biggest eye-opener. There are two. That's it. Two employees, who are the only executives, who are also the only directors. No researchers, no secretarial staff, no human resources. No independent accountability. The entire operation is run by two guys. The executive officers, since they are the directors, set their own salaries and award their own bonuses. Leo Ehrlich is the CEO, CFO, and principal accounting officer. Krishna Menon is the president and chief science officer. The "nominal" salary they pay themselves is $367,000 per year. According to the annual report, they also awarded themselves another "$1,097,416 in stock based compensation during the year ended June 30, 2012." It's hard to say what they do for that money, since there is no staff to supervise.
Krishna Menon also diverts investors' money to himself by contracting with himself: "Presently, Kard Scientific, a company controlled by Dr. Krishna Menon, President and Director, provides preclinical and manufacturing services to the Company and leases space to the Company."
These two individuals have also given themselves absolute control of the company, making any sort of activism by the common shareholder impossible. According to the recent annual report, only Class A stock is outstanding. However Menon and Ehrlich own options on Class B stock, which carries 10 votes per share:
Our Class B common stock has ten votes per share on all matters submitted to a vote of our stockholders and our Class A common stock has one vote per share on all matters submitted to a vote of our stockholders. Menon and Ehrlich each have vested options that they can exercise and convert to 18,000,000 shares of Class B common stock. That alone could result in the equivalent of 360,000,000 votes of Class A shares.
Does Leo Ehrlich, the CEO, have an impressive track record that justifies the salary he pays himself for running a company with no revenue and a going concern warning from its auditor? His previous affiliations are CFO and director of Nanoviricides (NNVC.OB), and CEO and director of Statsure Diagnostic (SSUR.PK). Both are Bulletin Board penny stocks. SSUR.PK currently trades for $0.03. NNVC.OB trades for $0.50. That appears to be the entirety of his track record.
There are no real fundamentals to analyze, since the company has no revenue. As of September, the balance sheet showed $120,000 in current assets and $7.8 million in current liabilities. Unsurprisingly, shareholder equity is a negative $7.7 million. Since then, Aspire Capital Fund agreed to buy $10 million in stock over three years, in exchange for 336,625 "commitment" shares. Seeking Alpha contributor KarinCA published an optimistic writeup of that deal last week. Given that the company has negative working capital of $7 million and burns $5 million per year, funding of $10 million spread over three years is paltry. Particularly when there is no independent board of directors to protect shareholder interests.
Investing in highly promoted OTC penny stocks is hazardous for your financial health. Major exchanges have a few protections against insider exploitation of the common shareholder; OTC and Pink Sheet stocks have none. They are easily manipulated, and few professionals scrutinize them. Management knows that the general public isn't skilled at deciphering SEC reports. They tend to be loaded with exotic warrants, convertibles, dual-class structures, and other conflicts of interest. Kevetrin may be legitimate, of course. Figuring these things out is a chess game, but a game the common investor plays lacking a queen and both rooks. In this case, investors have to decide if a research company that employs no researchers, is run by an unproven management team with no legal accountability, and which has a going concern warning from its auditor is worth $200 million.
With the current strong cash position, the Company believes that it has sufficient funds available to perform the necessary IND enabling studies for its anti-influenza drug candidates and to begin human clinical studies in a reasonable timeframe.
Just another PR without any substance,and they even have the cockiness to sell it as "steady progress is being made".
Looks like nobody cares anymore what this company believes. The fact is, they have fooled the investors to a point, where whatever these two guys say, new investor money will not poure in fresh money for support. And old sayin is: What goes around comes around. Fool me once shame on me, fool me twice shame on me.
Nuff said...
.
Wall Street Transcript Interview with NanoViricides, Inc. (NNVC) CEO Eugene Seymour, M.D.
Wall Street Transcript – Wed, Aug 29, 2012 2:19 PM EDT.
We're awaiting more data from the laboratory that did the research work but this suggests to me that not only do we have the possibility of a cure for all forms of influenza A, but we have a drug that can be taken orally and function as a prophylaxis against the flu. We are starting toxicity studies shortly, and our plan is to be in humans in Australia next year.
Very exciting news...an agreement...hmmm....how many have they announced over the last six years...very credible management...i'm very curious what excuse they will announce next year that the tox studies will be delayed into 2014/2015...because the building of the agreement partner was not cGLP conform and the studies had to be relocated to the own cGLP facility...which was finally finished in 2013 due the personal engagement of the company's CEO, who invested his own money to save the world...LOL...
When will NNVC release the next successful animal test result???
I can almost no wait and I'm sooo excited, when will the SUPER doctors relase the next anmial test results, with an exciting virus load reduction 10^12 compared to standard of care treatments.Life is good and no need to hurry anyway, when the funds diminish just take another load 10^6 from the shelf, very comfortable self service. At this point in time and as communicated over the last 6 years, there are many facility buildings available now, where all the necessary cides will go into production, to meet the high expected demand of all kind of cides incluing imagincide, which by the way is already around since 2006.
That's always what happens to this kind of companies, what goes around...comes around...shallow tiredsome press releases won't impress anybody anymore...this company is going for the crapper...all of course JMHO.
A new advisory company, now in AUS...hmmm...before they hired a company in the US to successfully guide them through the FDA PRE-IND talk needs...ouchhhh...but unfortunately and obviously unsuccessful...fact is this shallow PRs don't fruit anymore...and there are no new investors willing to jump on the BS waggon anymore...even the pumper Cox cannot attract any new innocent Joes' into this dark soup, which is apparently getting thinner and thinner...plenty of examples out there of wannabe companies without ever commencing their endeavours...
What is going on...as Dr. Feelgood states...it can take up to 30 yeare until a biotech company can bring a product to market...good night...then it will be the juniors of the current management who finally might succeed after 2040...
Current situation:
No update about their plan after the pre-ind meeting with the FDA many month ago...only shallow comments stating that they may be testing somewhere outside of the US...of course after receiving 5 more mills from seaside (suicide) they don't need to hurry at all...the bucks are in the coffers...life is good...it is just another one of the gazillion biotech companies out there...who play cat and mouse with the retailers...and as sad as it is...they will never bring any product to market...period...i'm certain...they don't even have started to lift a finger with the construction of that new special facility.
Have no idea why u r excited for a couple pennies up...maybe must be the koolaid...i only know that the management of this company is a farce and has no credibility at the last...
Please dont´t try to tell me, that the space was used as additional office and production space...for what...3-6 employees...1000ths of sqms...for tests which have been conducted in other places and not in West Haven...I don´t want to offend you...but please don´t think I cant´t count 1+1...I´m not a doctor but at least I know how much 1+1 is...have a good evening...
Thanks for your clarification, but still i´m not convinced about your explanation regarding the space for production, please see an old article from 2007 about the future plans of NNVC...why are they not using the space, which was mentioned 5 years ago...what a waste of money for renting or buying a new shell building for production...from a business standpoint...this doesn´t make any sense at all...highly respected doctors have no idea how to make a business plan...any plumber (please ask Joe) knows how to operate a small size company with a few employees...???
Biotech to add a Woodbridge site
Steve Higgins, Register Business Editor
03/08/2007
-WOODBRIDGE — NanoViricides Inc. has leased 5,000 square feet in a research and development building in the Woodbridge Commercial Park.
The drug development company will expand into the new site while remaining at its current site at 135 Wood St. in West Haven, which also comprises 5,000 square feet.
"This modern space will enable the company to expand its research activities toward development of new drug candidates and support NanoViricides’ anticipated growth," said Chief Executive Officer Dr. Eugene Seymour.
The company will occupy space in the 30,000-square-foot building at 4 Research Drive, and has an option to take more space in the building, Seymour said. The two-story building opened in 1999 and was originally designed for Bayer Pharmaceutical Corp. in West Haven, which recently announced it is moving out of Connecticut.
NanoViricides Inc. was founded by President and Chairman Anil Diwan, who is developing nanomaterials designed to deliver anti-viral drugs in the human body.
The company is working on anti-influenza drugs at facilities at Beth Israel Hospital in Boston, and is working on drugs to battle rabies and bird flu in Vietnam. Next week Diwan is scheduled to sign an agreement in Washington, D.C., with the government of Vietnam to build a drug manufacturing facility in Hanoi.
"We have been working under an agreement with the government of Vietnam for a year, and they have offered us a large parcel of land in a new high-tech park in Hanoi," Seymour said.
NanoViricides plans to hire an unknown number of new workers in the coming months, mostly chemists, other scientists and administrative personnel, he said.
"The scientific community is showing significant interest in the nature of our technology, and in order to increase the output of new pharmaceutical products we need to hire more people," he said.
Paul R. Pescatello, president of Connecticut United for Research Excellence in New Haven, said leasing new space is a good sign for the company. "We’re very pleased that their research is going well enough to attract funds to further their work," he said.
However, Seymour, who lives in California, said he only signed a two-year lease for the Woodbridge space because he is considering moving the company out of Connecticut.
"We are currently looking for a large-scale manufacturing facility, and we have received offers of money and governmental assistance from various states. We have not seen that in Connecticut," he said. "We’re not getting any cooperation at all from the state of Connecticut. There is no money available, and other states all have money."
Seymour cited the Texas Emerging Technology Fund, which offers seed money to biotechnology companies that set up collaborative arrangements with Texas universities. He said similar offers have come in from Arizona, Nevada, Indiana and New Mexico.
Connecticut officials have discussed low-interest loans, but Seymour said he is not interested in taking on debt. "Other states are offering outright grants and subsidies to move there," he said. "They also have inexpensive housing and newer infrastructure."
Jim Watson, spokesman for the Department of Economic and Community Development, said DECD officials have worked extensively with Diwan.
"We’ve had constant contact with them. We’ve tried to help the company not only with site selection, but also to engage in a dialog regarding financial support," he said. "We gave him a pre-application form for funding, which they have not filled out. They have never expressed any dissatisfaction with the services we’ve offered to date."
Pescatello said he believes state officials have responded to NanoViricides’ needs. "I wouldn’t count Connecticut out," he said. "There is a process, and hopefully Connecticut will participate in the company’s growth."
NanoViricides’ stock, which trades over the counter, closed Wednesday at 95 cents a share.
Steve Higgins can be reached at business@nhregister.com or 789-5752.
©New Haven Register 2007
http://www.nhregister.com/site/news.cfm?newsid=18053238&BRD=1281&PAG=461&dept_id=7546&rfi=6
With all due respect...why do they need a new buiding for that...I thought the West Haven building is as big as a "Football Stadium" where they can easily facilitate the production space for the needs of TOX studies...something what u claim to know isn´t just adding up...I respect ur knowledge...but I´m highly skeptical whats going on, regarding progress and planning of NNVC...all of course JIMHO!!!
A new cGMP facility for what???
What are this guys talking about??? Tox studies for the FDA...whats that all about??? Why in hell would they need to conduct TOX studies in the US, if they plan to carry out human trials outside of the US...seems very unlogical to me...and why they need a new building for that...don´t they have enough space for such production in the MONSTER building in West Haven for that???Something is wrong with all that press releases...disclaimer...all just of course IMHO!!!
"The Company will need to produce much larger quantities of the nanoviricides drug candidates for its upcoming toxicological studies than it can handle in the current facilities. Assuming the studies are successful, additional materials will have to be manufactured for human clinical trials if and when approved by the US Food and Drug Administration (FDA). The production of materials for human trials needs to be performed under FDA guidelines called “cGMP” (short for “current Good Manufacturing Practices”). The Company plans to manufacture the bulk cGMP drug materials for its future human clinical trials at the new facility.
In order to support the Company’s objectives, Inno-Haven LLC has agreed to purchase certain facilities. Inno-Haven is owned by Anil R. Diwan, PhD, President and Chairman of NanoViricides, Inc. Dr. Diwan plans to finance the purchase from his personal savings, personal borrowings, and a sale of stock of NanoViricides, Inc. that he has obtained as a Founder. To this end, NanoViricides, Inc. has agreed that Dr. Diwan will sell up to 2 million shares of his stock over the next year. In exchange, Inno-Haven LLC, and Dr. Diwan, have agreed to purchase certain facilities and lease a portion as needed to NanoViricides, Inc. Dr. Diwan has also agreed to provide personal guarantees, as needed, for the contemplated transactions. The Company has studied several alternative proposals including those from certain groups of current investors and has determined that this approach provided the best value for the Company and its shareholders. TheraCour Pharma, Inc., a drug development partner of NanoViricides that is controlled by Dr. Diwan, also plans to lease space in the same facility.
“This is the least dilutive way to obtain the cGMP manufacturing and lab space we need while avoiding capital expenditure from the Company’s current cash reserves,” said Dr. Eugene Seymour, MD, MPH, CEO of the Company, adding, “We are now on our way to clearing a major hurdle in our path towards FDA submissions and human clinical development of our drug candidates.”
The Company believes that the urgency for obtaining these manufacturing capabilities has now increased substantially. This is because of the recent successes of the Company’s FluCide™ drug candidates in pre-clinical animal studies. The Company has conducted pre-clinical efficacy studies using stringent, high-lethality-oriented, animal study protocols and has examined several parameters such as protection from lung inflammation and lung necrosis, extent and durability of viral load reduction, and extension of survival. The Company has publicized these findings in its recent press releases. On the basis of these findings, the Company believes that its FluCide drug candidates may be orders of magnitude superior to existing drugs in the treatment of influenza.
Inno-Haven, LLC has presented the case to the planning and zoning commission of the city and is in the process of obtaining necessary approvals".
Instead of a Gmp facility it turns out to be a BS facility...what are these guys doing?...since the PRE-IND meeting long time ago...no word what the FDA wants to see next and when...this company is totally wako-wako...no plan...it seems they only dream that their CIDES will become a reality one day...what a dissapointment for the bagholders but not for SS...which will gladly offer new cash infusions after the 12 mill in the bank are consumed...
NanoViricides Appoints Mr. Andrew Hahn as Consultant for Design and Construction of Pilot cGMP Production Facility
What a shallow PR...who is interested which architect is designing a facility which should be already finished by now...its like the same as a sack of rice turned over at a grocery market in shanghai...this guys have just nothing to offer than one excuse after another...i'm wondering what it will be after two years later...i bet already now, that there will be zero, nadda, zilch except new pipe deals with seaside at best...and the good ole dakta will fret over the pennies going up and down sub and keep the bagholders warm with new "fantasy" stories..."shoulda,woulda,coulda...finishaaahhh...
It is just amazing...after 6 years of testing they have already announced:
NanoViricides Announces Successful Pre-IND Meeting with the US FDA....
...how many years will pass until the IND meeting will occur...not maybe but surely another 6 years...and then finally...after reconfirmation by the FDA...another six years later...thanks god...the first phase 1 human trial test...of course...all the new PIPE financing over the next 12 years will take its toll on the SP...will still oscillating between o.35 cents to 85 cents...GREAT...
I'm quite sure, they have a very good excuse for NOT starting the cGMP facility yet...LOL
Don't worry this is the same story like NNVC, in six years from now, the PPS will be lower than today, the chance that any of these two companies will ever bring a product to market, is the same, that a meteorit will hit you on your head. Classical hoax, good for the CEOs and bad for the shareholders, all of course IMHO!! Good luck to you, same phrase you get, when you buy a powerball ticket!
Ooops ur math is a bit wrong, should be 2013 instead of 2012!
Now that's the best advise what I have read in the last 6 years on this board, but i will not give anything away for free for the incompetent management of this company and pumpers of this board, i will patiently wait, until the next COX pump, sell my shares and move on. I wish u all happy waiting, until this company will bring any of their drug candidates to market in 2045! GLTA
Looking back the past half decade...the future going into human clinical trials of any CIDE candidate looks BLEAK...facility talk up and down...how many more facilities do they need to go ahead to produce the cides needed before starting any of the TRIALS???Guessing when the first human trial will start??...if the excuses continue like the last 6 years...best case is 2020...or competion (DRACO) will swallow the dream of the bazillionists much before!!!!